Health and Term Insurance Premiums Reduced by 18% from September 22
Good news for policyholders—starting September 22, health and term insurance premiums will come down by 18%, bringing significant relief to individuals and families. This move is expected to make insurance more affordable, increasing penetration across the country.
Why Are Insurance Premiums Being Reduced?
The reduction comes as part of regulatory reforms and cost optimization in the insurance sector. The Insurance Regulatory and Development Authority of India (IRDAI) has pushed for measures to:
Improve affordability for policyholders.
Expand the insurance customer base.
Balance risk coverage and pricing efficiency.
What This Means for Policyholders
Lower Costs: Customers will now pay less for the same coverage.
Wider Accessibility: More people can now afford health and term insurance.
Better Financial Planning: With reduced premiums, households can allocate savings to investments or emergency funds.
Role of Vizzve Finance in Smarter Insurance Choices
At Vizzve Finance, we help individuals and businesses choose the right insurance policy with the best value for money. With the premium reduction, it’s the perfect time to:
Compare health and term insurance plans.
Assess coverage against family needs.
Invest the saved premium into mutual funds, SIPs, or retirement planning through Vizzve Finance.
Our financial advisors ensure you don’t just save money but also maximize your financial security.
Frequently Asked Questions (FAQs)
Q1. From when will the reduced premiums be effective?
The 18% reduction in health and term insurance premiums will be applicable from September 22.
Q2. Will existing policyholders also benefit from this reduction?
Yes, renewal premiums after September 22 will reflect the reduced rates.
Q3. Does the premium reduction affect the coverage?
No, the coverage and benefits remain unchanged. Only the cost has come down.
Q4. Should I switch to a new insurance provider after this change?
Not necessarily. With Vizzve Finance, you can compare plans across insurers and decide if switching offers better benefits.
Q5. How does Vizzve Finance help with insurance planning?
Vizzve Finance provides expert guidance, comparison tools, and investment solutions to ensure your insurance policy aligns with your long-term financial goals.
Published on : 5th September
Published by : Selvi
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